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Drizzle, Drudgery And Drugs
I'd say nobody cared about the June vintage of the Dallas Fed survey but...
Actually, there's no "but." Nobody cared. It's a Monday in June.
"Summer Mondays have their own defined character in the Treasury market and, if anything, they make the best case for the four-day work week – with an early close," BMO's Ian Lyngen and Ben Jeffery quipped.
For what it's worth, Monday's lone data release was a miss, at least on the headline. Dallas Fed printed 31.1, down from 34.9 and shy of consensus
Are the manufacturers complaining about a shortage of applicants or a shortage of skilled applicants capable of doing the work ? If we have a broad-based shortage of skilled workers we need an expanded training system to up the supply.
Maybe there’s more to modern American infrastructure than roads and bridges if we can’t field a sober workforce with the right skills and offer a living wage for their services. There’s a lot more impeding a robust economy and GDP growth in this country than the lingering effects from a pandemic. Covid, in a weird way, has given us a reprieve from looking clearly into the mirror.